House of Representatives Applauds NNPC Ltd Reforms and Profitability The House of Representatives has commended the ongoing reforms at the Nigerian National Petroleum Company (NNPC) Ltd, saying that the legislature is very pleased with the company’s growth from a loss-making company into a profit-making commercial entity. The commendation came from the Speaker of the House…
Walter Smith Refinery Prepares for Phase 2 Expansion with Support and Confidence from Lokpobiri The Chairman of Waltersmith Group, Abdulrazaq Isa, said that they are working round the clock to ensure that Phase Two of its refinery project, which will immediately take its capacity from 5,000 barrels of crude oil a day (bpd) to 10,000bpd,…
Navy Transfers Confiscated Marijuana Bags to NDLEA in Badagry On Friday, the Forward Operating Base (FOB) of the Nigerian Navy in Badagry, Lagos State, turned over nine and a half sacks of confiscated cannabis sativa, valued at N15.2 million, to the National Drugs Law Enforcement Agency (NDLEA) in Badagry. Lieutenant Empire Okorie, serving as the…
IPPG and OPTS Collaborate with NASS to Tackle Nigeria’s Oil Production Challenges The Independent Petroleum Producers Group (IPPG) and Oil Producers Trade Section (OPTS) are actively collaborating with the National Assembly (NASS) in an effort to stabilize the nation’s oil production. This engagement reflects a concerted initiative to address challenges and enhance the overall performance…
Energy Institute Advocate for Sustainable Initiatives Toward a Greener Future in Africa The Energy Institute’s annual Energy Sustainability Conference (ESC) held in Lagos, Nigeria, recently, centered around the theme “Driving Energy Transition in Africa: Policy Reforms, Technology, and Resilience for Delivering Energy Security.” The two-day conference was aimed at initiating important conversations and collaborations…
Military Deactivates 50 Illegal Oil Refining Sites Says DHQ The Defence Headquarters (DHQ) has reported that troops of Operation Delta Safe conducted operations in the Niger Delta region, destroying 50 illegal oil refining sites, arresting 51 suspects, and eliminating four criminals in the past week. The operations also led to the recovery of stolen crude…
Surge in Respiratory Illness Challenges China, WHO Identifies No Unusual Pathogen On Friday, China urged heightened vigilance as a wave of respiratory illnesses swept through schools and hospitals. The World Health Organization, seeking disease data from the government, reported no detection of unusual or novel pathogens. China is currently contending with a surge in respiratory…
Former Militant Leaders Urge Tinubu to Investigate Pre-Sale of Crude Oil During Buhari’s Tenure The ex-agitators in the Niger Delta region have called on President Bola Tinubu to investigate allegations that, towards the end of President Muhammadu Buhari’s administration, crude oil was sold upfront, and the proceeds were misappropriated. This request suggests a call for…
U.S. Crude Oil Prices Drop Following OPEC’s Meeting Postponement U.S. crude prices experienced a decline following the postponement of a crucial meeting on production cuts by the Organization of the Petroleum Exporting Countries (OPEC). The West Texas Intermediate (WTI) contract for January initially dropped about 5% to $73.85 a barrel in the morning but later…
NLNG Dividend to NNPC Reaches Eight-Year Peak Official data reveals that the dividend paid by the Nigerian LNG Limited (NLNG), the largest gas exporter in Nigeria, to the Nigerian National Petroleum Company Limited (NNPC) has reached its highest level in eight years. In 2022, NLNG’s revenue increased by over a third, reaching $7.59 billion, the…
